Short Interest in Data Storage Corp. (NASDAQ:DTST) Declines By 28.1%

Data Storage Corp. (NASDAQ:DTST) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 30,806 shares, a decline of 28.1% from the February 26th total of 42,838 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 11,268 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC purchased a new stake in Data Storage in the 4th quarter worth approximately $256,000. Renaissance Technologies LLC grew its position in Data Storage by 54.8% in the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after acquiring an additional 48,200 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Data Storage during the 3rd quarter worth about $186,000. Rothschild Wealth LLC acquired a new position in Data Storage in the fourth quarter valued at about $205,000. Finally, Yakira Capital Management Inc. bought a new position in shares of Data Storage in the fourth quarter worth about $175,000. 11.56% of the stock is owned by hedge funds and other institutional investors.

Data Storage Trading Down 5.2%

NASDAQ:DTST traded down $0.21 during midday trading on Monday, hitting $3.84. 13,206 shares of the stock were exchanged, compared to its average volume of 20,428. The company has a market capitalization of $27.89 million, a price-to-earnings ratio of 1.76 and a beta of 1.10. Data Storage has a one year low of $2.93 and a one year high of $5.44. The business has a 50-day moving average price of $4.21 and a two-hundred day moving average price of $4.40.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Data Storage in a report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Data Storage

Data Storage Corporation provides data management and cloud solutions in the United States and internationally. It offers a suite of multi-cloud IT solutions, including cyber security solutions, which comprise ezSecurity, a security solution for endpoint security, system assessments, and risk analysis, as well as IBM system protection, including Ransomware defense. The company also provides data protection and recovery solutions, such as ezVault for offsite data protection; ezRecovery for fast data recovery; ezAvailability for real-time data replication with minimal recovery objectives; and ezMirror for data mirroring at the storage level.